Kovitz Investment Group Partners LLC lowered its position in Delta Air Lines (NYSE:DAL) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 654,106 shares of the transportation company’s stock after selling 4,588 shares during the quarter. Delta Air Lines accounts for about 1.6% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 27th largest position. Kovitz Investment Group Partners LLC owned 0.09% of Delta Air Lines worth $36,630,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Credit Capital Investments LLC boosted its position in Delta Air Lines by 145.0% in the 4th quarter. Credit Capital Investments LLC now owns 14,700 shares of the transportation company’s stock valued at $823,000 after buying an additional 8,700 shares during the last quarter. First Republic Investment Management Inc. boosted its position in shares of Delta Air Lines by 13.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 215,189 shares of the transportation company’s stock worth $10,376,000 after purchasing an additional 25,549 shares during the last quarter. Sowell Financial Services LLC boosted its position in shares of Delta Air Lines by 26.4% in the 3rd quarter. Sowell Financial Services LLC now owns 10,951 shares of the transportation company’s stock worth $551,000 after purchasing an additional 2,290 shares during the last quarter. Westpac Banking Corp boosted its position in shares of Delta Air Lines by 16.5% in the 4th quarter. Westpac Banking Corp now owns 134,522 shares of the transportation company’s stock worth $7,533,000 after purchasing an additional 19,031 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Delta Air Lines by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 1,578,641 shares of the transportation company’s stock worth $76,122,000 after purchasing an additional 29,941 shares during the last quarter. 87.59% of the stock is owned by institutional investors and hedge funds.
DAL has been the topic of several recent analyst reports. Cowen lifted their target price on Delta Air Lines from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, December 15th. Vetr raised Delta Air Lines from a “strong sell” rating to a “sell” rating and set a $49.97 price target on the stock in a research note on Wednesday, January 3rd. Imperial Capital reaffirmed an “outperform” rating and issued a $65.00 target price (up previously from $63.00) on shares of Delta Air Lines in a research report on Friday, January 12th. Stephens set a $67.00 target price on Delta Air Lines and gave the company a “buy” rating in a research report on Monday, December 18th. Finally, Morgan Stanley lowered their target price on Delta Air Lines from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Delta Air Lines presently has an average rating of “Buy” and an average price target of $67.75.
Shares of NYSE:DAL opened at $53.05 on Friday. The firm has a market cap of $38,074.35, a PE ratio of 10.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.42 and a quick ratio of 0.35. Delta Air Lines has a 52-week low of $43.81 and a 52-week high of $60.79.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, January 11th. The transportation company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.08. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Delta Air Lines had a net margin of 8.67% and a return on equity of 26.27%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. sell-side analysts anticipate that Delta Air Lines will post 6.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, February 23rd were issued a $0.305 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.22 dividend on an annualized basis and a yield of 2.30%. Delta Air Lines’s payout ratio is 24.75%.
In related news, CFO Paul A. Jacobson sold 49,362 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $60.20, for a total value of $2,971,592.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joanne D. Smith sold 24,250 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $59.03, for a total transaction of $1,431,477.50. The disclosure for this sale can be found here. Insiders sold 114,250 shares of company stock valued at $6,794,500 over the last 90 days. 0.37% of the stock is currently owned by company insiders.
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Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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